Petrol prices have dropped across depots as competition with Dangote Refinery intensified, prompting operators to adjust rates downward to remain competitive.

Imported petrol remains about 12% cheaper than fuel from Dangote Petroleum Refinery, according to the World Bank, reflecting ongoing distortions in fuel pricing.

Brent crude prices dropped over 15% due to the US-Iran ceasefire, leading to a petrol price cut in Nigeria, although experts warn of future volatility.

Nigerian households face a 5% rise in cooking gas prices due to volatile global energy markets and geopolitical tensions, impacting budgets and energy costs.

The World Bank urges Nigeria to reopen petrol imports to boost competition and lower prices, as marketers demand deregulation while experts caution on local refining